Bye bye apt... hello apt?

[gomntwins]

Well, similar to the individual buying the house, ctab, I'm in the process of purchasing a place to "call my own". I've decided to go the rental route however. I don't mind the apartment living and have decided to buy a duplex. I made my offer this last week and have been playing a bit of back and forth on it. Hopefully it works out. It seems to me to be a great way of building equity, getting some cash flow, and having the title of slum lord! I've always wanted to be a slumlord (joking). We'll see how it works. I'm taking a guess we'll reach an agreement early this week. If not, I'll keep looking. But it does seem like a great time to buy. Hopefully it works out.

 

[JustinA]

Good luck to ya! My wife and I just purchased a townhome/duplex/condo, whatevaa! Pretty sweet deal we got. Mowing grass isn't for me anyways!!

 

[ProudPilot]

Yeah, I might be staying in GFK to buy a house as well, really great deal. As I'm so poor qualify for a few deals:

17500 in a second mortgage that is forgivable if I hold if for 10 years, no payments, no interest.
5000 down payment grant, no payments, no interest, just there.
7000 down payment assistance loan with a 2% interest.
8000 tax credit
No property taxes for the first 2 years on the first 75% value.

Oh and did I mention this means I can buy a 3 story, 3 bed, 2 bath, brand new townhouse for around 500 principle, or about 750/mo total? It's also 1300 sq ft.

Now, if I decide to leave in say 2 or 3 years, just keep the house, rent it out, I can make rent = mortgage and have the next people help me build equity, all while I got some 35 grand off my listing price as I'm poor.

"It's good to be the King"